Being an employer of choice simply means being a business that people want to work for. It is being the best employer you can, particularly for the type of team you want to have. As an employer of choice, you prioritise your team because you understand that your employees are your biggest asset. These days employees have more choice and more desire to work for an exceptional business. Becoming an employer of choice means that you will be able to recruit and retain a top performing team. It means that top talent will want to work for you and seek out employment with you. It also means that your current employees are loyal and will spread the word for you when looking to attract new team members. Although offering a competitive salary is a great way to attract employees, it is only the first step to becoming an employer of choice. Employees want to work in a place where they are valued, appreciated, and inspired. The benefits of being an ‘Employer of Choice’ Being an employer of choice means that you are attracting top talent. The best in your industry will gravitate toward your business often filling positions before you have even advertised them. Not only does this give you a top performing team, it also cuts costs on recruitment and advertising. Your team will be more motivated increasing overall productivity. Employees will stay with a business longer when they feel supported, reducing turnover costs and fostering stability. Not only do employees stay longer, they are more engaged and invested in the success of the business. They are loyal to their employer and are less likely to leave when things get a little tough. Your current employees also become brand ambassadors. Engaged and loyal employees will sing your praises to potential hires and customers. How to become an ‘Employer of Choice’ Ask your employees what would make you an employer of choice. Conduct surveys and gain feedback into where your business is doing well and where you could improve in order to retain and attract employees. Employers of choice pay their employees fairly, value their employees and have strong leaders. They provide job security, flexibility, and opportunities for growth. Provide your employees with meaningful work and balance roles to ensure employees are challenged without stress or burnout. Create opportunities for learning new things, job growth and personal development. Create systems to show appreciation and recognition to your team. Create a positive team culture that motivates and inspires employees. Show your employees that you value their time and create a workplace with a positive work-life balance. Refreshed, relaxed, and balanced employees are the most satisfied. Treat your employees fairly and communicate honestly and openly. Being transparent and open to feedback helps create that feeling of appreciation in your team. Empower them to be their best, both at work and at home. Make decisions based on your vision, mission and values and ensure your team know about these decisions. Most importantly, foster relationships, build team culture and have some fun. Employees spend a large part of their life at work, ensure they actually enjoy it. Measure Your Success Ask your employees Pay attention to see if you are heading in the direction of becoming an employer of choice. The easiest way to measure your success it to ask. Survey your employees and ask questions about leadership, career growth opportunities, work-life balance, being a valued team member and job satisfaction. If the feedback is increasingly positive, you are on the right track. Recruitment metrics For those that need a measure that is a little more analytical, look at your recruitment metrics. Does it take less time for you to fill vacancies in your business? Are you getting more applicants for advertised roles? Are the applicants of a higher caliber than previously? If you are finding it easier to fill employment vacancies, you are working toward becoming and employer of choice. Employee Retention Similarly, look at your employee retention. If you are having success in retaining your top employees for longer, you are doing well. Satisfied employees tend to stick around for longer, so having a good retention rate is a good indicator for having engaged, productive employees. Satisfied employees also promote working for you to others, making recruitment easier. External Recognition Observe how external entities, prospective hires and others in your industry view your business. Positive word of mouth is a great indicator of your success as an employer of choice. This includes things like digital reviews and social media presence. Often the ‘best in the business’ are naturally an employer of choice. If others in your industry are noticing your efforts, you will have less worry in recruiting and retaining the best employees.  Being an employer of choice does not need to be a difficult task. Treat your team with respect, value them and show your appreciation. Keep track of employee satisfaction levels, recruitment and retention metrics and you will be well on your way t o becoming an employer of choice.

Integrity – “the quality of being honest and having strong moral principles.” Integrity is built on honesty and trustworthiness. It is adhering to core values and morals, even when no one is watching. Integrity is where values and behavior come together. It is having sound judgement and doing the right thing through our words and actions. Having integrity means you are trustworthy, reliable, communicate openly and take responsibility for your action. In the workplace, integrity means everyone is committed, proactive and accountable. It is the commitment to uphold strong moral principles, ethical behavior, and honesty. It is each person taking responsibility for outcomes and showing respect to each other. Why is building Integrity in the workplace so important? Customers care more about ethics than ever before. Many are researching businesses and their values before they purchase. With the age of social media and digital reviews at our fingertips, customers are able to access information on the honesty, authenticity and integrity of any business. Businesses that show integrity, honesty and live by their values are often recommended by customers. If you want a positive business culture, integrity must be a core principle. It encourages diversity and open communication within the business. Even one person acting with integrity can inspire others to do the same, shaping the business culture. Teams that have integrity tend to hold each other accountable and build on momentum. As a result, these teams are often more productive and suffer from less burnout. Having integrity in your business will attract employees with similar values. You are far more likely to retain valuable staff if you conduct business with honesty and integrity. Integrity builds trust and loyalty and teams are more likely to have the confidence to problem solve when things go wrong. How to demonstrate integrity in the workplace? As a business owner, demonstrating integrity to your team is so important. Ensure you clearly define the business values and let them guide you to making your business decisions. Hold yourself accountable, just as you would your team. Integrity can be demonstrated through valuing your teams time, showing them gratitude, and following through on your promises. Respecting your own business policies enables you to make informed decisions, showing your team integrity. All team members, including management, should demonstrate integrity by being ready and willing to work. Go above and beyond with your work and help your team members out when needed. You must lead by example. It is your attitude that will set the foundation for the team. Cultivating a culture of integrity In order to cultivate a culture of integrity, you must first act with integrity. Communicate your values to your team and let them know that you expect integrity from them. A large part of integrity is transparency. Your team will thrive if you are open, honest and transparent with them. The same goes for your customers. We all make mistakes, owning up to them and being transparent about them and how you plan to fix them will show your team and customers that your business is built on integrity. Just make sure to remember that you do not need to reveal everything. There is a balance to be had. Build trust with integrity without comprising privacy or strategic interests.  Ultimately, integrity is about your values and ethics. Adhering to these even when there is nothing to gain. Do this and your team and business will be built on honesty and trust.

Cashflow is crucial to business and one of the easiest and most effective ways to keep your cashflow positive is to get control of your invoicing. You want to actually get paid for the work you have done. Invoicing on time, with accuracy and following up on payments are all vital to business success. Your invoices serve as a formal request for payment and failure to create and send them could hamper the success of your business. If payment of your invoices is delayed, it can negatively affect your cashflow. Now is the time to improve your invoicing process. The process determines when and how you are paid for your goods and services. While many businesses issue invoices at the point of sale, others need to issue invoices after goods or services have been given. This is when it becomes imperative that you stay on top of your invoicing as a priority. Here are some ways to make sure your invoicing process keeps your cash flowing. Invoice design Make sure your invoice is clear and easy to read. Reduce confusion and the need for clarification. Ensure that you have met all tax and legal requirements with your invoice and keep a standardized invoice layout. Always include the products or services provided, total payment needed, when it is due and how your clients can make payment. Keep it clear and simple. This ensures professionalism and increases the chances of getting paid on time. Invoice timing Invoices should be sent out as soon as possible. Waiting until the end of month when you could invoice sooner means you may not be getting paid on time to keep your cash moving. Waiting on invoices will only slow down your cashflow. Invoice accuracy Ensure accuracy on your invoice. Incorrect details on your invoice will create payment delays while you and your client work it out. Avoid making mistakes that lead to undercharging or overcharging, which can also lead to delays. Invoice automation If you don’t already, not may be the time to get some accounting software. It will help you automate your invoicing process, ensuring accurate and timely invoices are being sent. Any invoices that are sent regularly can often be set up once and you don’t have to worry about them again. It saves you time and reduces the chances of late payment. You can set up automatic payment reminders to remind your clients of unpaid invoices. It will help you keep a track of your payment history and outstanding amounts. While it may seem like a big investment to start with, the effort and time to set up an automated system will have long-term benefits. Follow Up Priorities following up on unpaid invoices. The longer an unpaid invoice is left, the longer it will take to receive payment. Your bills won’t stop, so you need to ensure that your invoices are being paid. Keep following up on outstanding debts until they are paid. Invoice Payment Think about how your invoices get paid. Is it easy for your clients to pay you? If a client has to go through a lengthy process to pay you, they are more likely to put it off. Make sure your payment options are simple and easy. Your new accounting software may be able to make it even easier.  Keep on top of your invoicing to make sure you are getting paid and you cash can keep flowing.

We’ve all heard the saying that ‘cash is king’, but cash flow is still often an area of business that gets neglected. Being able to effectively manage your cash flow is key to the long term survival of your business. Cashflow is critical to small business. You need to be able to pay your bills, pay your team and invest in growth. Understanding your cashflow is so important so you can make the right decisions for your business. Cashflow is not overly complicated when you break it down. It is simply an understanding of where your money is coming from, where it is going and when. It is often mistaken for being the same as profit, however, the objective of cashflow management is to understand the flow of cash in a given time period, not just the bottom line. A good cashflow management system will include all your business incoming and outgoing payments, including revenue and all expenses, such as rent, payroll, equipment, product development and loans or investments. It can help you identify when you will have a surplus or when you are likely to fall short. Knowing this allows you to plan for the lower periods and optimize the surplus. Some tips for managing your cashflow: Track Cashflow It is critical to have a cashflow management system in place. You will never know when you to adjust cashflow if you don’t know what is already going on. You need to be able track your cashflow and know which levers to pull when you need to reduce expenses or increase cash. Make cashflow forecasting a regular habit so you can keep track of money coming in and money going out regularly and act accordingly. Increase Sales Probably the first thing everyone thinks of when cash is low – increase your sales. The more money coming in, the better the cashflow. Many small business owners get put off by the cost of marketing to new customers, however, with modern ways to reach people, like Social Media and Email Marketing, it does not have to cost a lot of money to advertise. Invoicing and Debtors Make sure you stay on top of your invoicing and your debtors. Invoice in a timely manner to ensure payments are made on time. Have clear payment terms and easy ways for your customers to pay. A debt recovery process will be invaluable for those times when invoices are not paid on time to make sure you are following up on your invoices and ensuring payment. If you are a business that requires cash on completion of projects, consider requesting deposit invoices for large jobs. If debtors are frequently late, consider an incentive to pay early or fees for late payments. Monitor Stock Take advantage of higher cash flow periods to modify your stock orders allowing stock to be available for lower cash flow periods. However, you also need to avoid having money tied up in slow moving stock. Practice good stock control to ensure safe levels of stock and maintain balance. Sell Assets Take stock of your assets and ensure nothing is obsolete or dormant. Sell any assets that are no longer used in your business and create a cash injection. This may also reduce costs on storage for equipment, machinery and tools that are not needed. Watch Expenses As well as increasing cash coming in to the business, you will need to look at the cash that is leaving the business. Keep your outgoing payments to a minimum and look for opportunities to save money. Streamline and reduce costs to balance the scales of your cash flow. Minimize your energy costs by installing energy efficient products. Reduce waste. Shop around when your insurances are due and check that you are getting the coverage you need. Review all your regular expenses, like phone and subscriptions. Negotiate larger expenses like loans, rent and supply chain costs. Reducing costs can be a challenge as many things are fixed costs, however, knowing your cashflow makes it easier to find areas where you can reduce spending. Create some room Build a cash reserve to get you through the lower periods. This will increase your confidence and help you prepare for unexpected costs. It will also allow to take advantage of opportunities as they arise. Setting aside some cash that could cover a few months’ worth of expenses could save the business in unpredictable circumstances. Learn and Grow Improving your own financial skills will help you improve your cash flow. Learn your numbers and know what they mean. Use accounting software so that you always know your financial position and can forecast your cashflow with ease. Sharpening your financial skills will allow you to be aware of any large expenses coming up and consider big investments before making them. Consider outsourcing some of the financial needs to an accountant so that you can feel confident in the business and it’s growth capability.  Every business needs a good cashflow management system. It is crucial to the success and growth of the business to have good flow of money. It is as simple as ensuring your income is more than your expenses, leaving you with a profit.

Celebrating achievement is an important part of building and maintaining an effective, self-assured team, boosting your own confidence, and making your business a great place to work. It boosts confidence and increases motivation. It gives your team a morale boost and can help retain your employees. Celebrating together bring us closer together, letting us know that we belong to a certain group. It creates a strong business culture and strengthening teamwork. It creates engaged employees and increases productivity. Creating a culture of celebration also improves your business reputation and helps attract top talent. A place where people acknowledge, respect, celebrate and collaborate with each other becomes a successful and happy place to be. Why we should celebrate As well as boosting employee morale, a culture of celebration can become a part of your brand, helping to attract and retain employees. Employees feel appreciated and valued, helping them perform better and allowing for more productivity. Your employees feel valued and have a sense of accomplishment, bringing joy and a sense of belonging. What to celebrate As a business, it is important to notice and acknowledge milestones, achievements, even anniversaries. These are a reflection of your business journey and we need to slow down to acknowledge them. We can be so constantly on the go that we often pass achievements or milestones without really thinking about them. We achieve one goal and we move straight on to the next. We need to slow down and take a minute to recognise and celebrate these achievements. In terms of celebrating your team, there will be accomplishments and milestones that come along that seem obvious to celebrate. Then there will be other things to celebrate that are not so obvious. For example, celebrate that one employee that you can always count on. The one that is always there, ready to help, but might not receive any of the usual recognition. Don’t forget the little things. It is easy to celebrate a milestone or big sale, but the smaller wins deserve recognition too. For example, pulling together as a team, learning a new skill, supporting new team members, consistent great work, even personal achievements can be celebrated in the workplace. Other reasons to celebrate could be a successful quarter, project completion, work anniversaries, complimentary feedback from customers or colleagues. How to celebrate Make sure the celebration fits to achievement. A large event is not needed for most celebrations, but a simple thank you will do. Make it personal to the people involved and consider their preferences and personalities. Surprise the people involved and let them know you appreciate their efforts. Remember that celebrations can lose their impact if it is done too often. Don’t go into overdrive and make sure to keep the celebrations special. Recognition should be natural and authentic. Ways to celebrate The simplest and often most effective celebration is recognition. A simple “Thank you” or “Well done” is a great way to celebrate achievement. You can do this face to face, via email or even within a group to recognize someone amongst their peers. Small tokens of appreciation are another great way to acknowledge and celebrate the team. Gifts such as food, flowers, or gift vouchers are always a hit. Social gatherings bring the team together and help boost team spirit. They are a great chance for the team to bond. Awards are often a more formal way to recognize team efforts. Make them a regular occurrence and acknowledge achievements together.  Every business will have different ways of celebrating. Work out what works for your business and your team.

Flexibility in the workplace is rapidly becoming the norm. It is becoming increasingly popular as both employees and employers realise the benefits of a greater work/life balance. With today’s technology, there are no longer barriers to allowing flexibility in the workplace. It allows employers and employees to make working arrangements that suit the individual and the team. Some employers are still wary of offering flexible work arrangements with the outdated view the they only benefit the employee. However, it is about working together to make changes to working schedules and environments that meet both individual needs and the needs of the business. Even the Australian Government is making changes to encourage flexible work arrangements. Flexible work arrangements can be made in numerous ways. Many businesses are creating a hybrid approach to flexible working arrangements, creating small elements of flexibility where they can. This helps employees create a more balanced life and can help employers by increasing productivity, reducing costs and improving business culture. What is flexible work? Most people think flexible working arrangements means working from home and we have all become more accustomed to this idea in the last few years. However, flexible working arrangement don’t just mean working from the comfort of your own home. Flexible work could mean location of work, but also the hours worked or patterns of work. For example, you may have staff working from home a few days a week or full-time. You may have staff that work better later in the day and therefore shift their working hours to suit, you may have staff working from different offices or other locations, or staff that job-share. Even part-time work is considered having a flexible working arrangement. Benefits of Flexible Work Work/Life Balance The most prominent benefit to flexible working arrangements is that it promotes a better work/life balance. As such, employee’s wellbeing and satisfaction is much higher. Employees managing their own schedules and having more control over their work creates more job satisfaction. Employee burnout is on the rise and the cure may be more flexible work for many employees. Allowing employees to take control and adjust their work hours or location can reduce employee stress, improving mental wellbeing. Business Culture A business that provides for flexible work is seen as one that cares about their employees. Morale is given a boost and employee engagement increases. Taking the needs of individuals into consideration creates a positive culture. Workplace flexibility also promotes inclusivity and diversity. Flexible work accommodates a more varied set of employees, attracting diverse talent and reducing bias. Those that may not have had access to the workforce are now able to contribute to business, bringing a new set of skills and experience with them. Productivity Many business owners found this a surprising benefit when offering flexible work. Instead of employees being idle when not being in view of managers and colleagues, they become more productive. When employees can have control over their own schedules, they tend to focus on their tasks and productivity increases. Employees can take advantage of location flexibility by finding the best place to work from. Somewhere comfortable and convenient for them. They can also manage their schedules to work on the more challenging tasks at their most productive times of the day or week. Flexible work may also cut down on time, money and energy spent commuting. The more relaxed and flexible environment creates space for innovation and creativity. It also allows employees to find out how they work best. Employee Acquisition and Retention It is no secret that more and more employees are preferring to work for businesses that offer flexible work. If your business already has arrangements in place, it will make you more desirable to top quality candidates. Employees are also much happier and more loyal in businesses with flexible working arrangements. Employee retention rates have increased dramatically in businesses that allow for flexibility. It also allows for further development of your employees as they have flexibility for further education, contributing to their career growth. Cost Reduction With more employees working from home, there may be a reduction in costs. The largest being the ability to potentially downgrade office space. If you do not downgrade, there are other overhead costs that will be reduced, such as equipment costs and energy costs. Tips for Flexible Work Be inclusive While flexible work may be about each individual and how they work best, include the team in the decision-making process. Encourage your team to share ideas and give feedback. Think about the impact to the team as well as the individual. Challenge your Bias What do you really think about flexible work? Do you worry that if your team are not right outside your office that they won’t be working? Are you concerned about reduced productivity/ commitment/ loyalty? Challenge what you believe is the ‘ideal employee’ or the ‘idea work environment’. In most cases your biases have been disproven. If you find yourself opposing flexible work arrangements, think about why. Is it simply because this is the way it has always been done? Be Creative There are so many ways to embrace flexibility and autonomy. You do not need to have a fully remote team. By being creative, you can come up with innovative ideas for flexible work. With tools in place to allow for choice, there are more ways than ever to be flexible. Tools and Equipment Ensure your employees have the right tools and equipment to complete their tasks. Your employees will need computers, software and other resources. Many of this you will already have available, but you will need to make it available at different locations or for different working hours. Set your expectations Communication is key to flexible work. Everyone needs to be on the same page. Ensure that deadlines and tasks are communicated clearly and effectively. Embrace feedback and encourage adjustments as you get used to the more flexible arrangements. Be flexible The key to flexible working arrangements is being flexible. Assess flexible working arrangements based on individual needs. Be open and adaptable to new ideas. Take individual circumstances into consideration and if problems arise, be open to adjustments.  Flexible working is not going anywhere. Employees are seeking flexible workplaces and enjoying the benefits of better work/life balance. Employers may need to work on their mindset around flexible work, but they will find that there are many benefits to offering flexible arrangements. Adapt to the ever evolving trends of workplace flexibility and you will find your business and your people flourish.

In order for a team to work well, everyone should be moving in the same direction. In business, that should be the direction of your business vision. But how do you keep everyone motivated to continue working in a certain direction? Keeping your employees committed to achieving a certain objective starts with their own motivation. Giving your team a morale boost, will help to keep everyone moving in the same direction. Recognition Make your employees feel valued by recognizing their efforts. Many large companies have formal recognition programs where the most productive members choose a reward. However, for smaller businesses, a simple thankyou gesture may be all that is needed. As long as it is heartfelt and genuine. Recognizing your employees also goes beyond your highest performing sales person. Celebrate achievements, both professional and personal and make your recognition as individual as your employees themselves. Communication Building trust with your team starts with open communication. As well as recognizing their efforts, ensure direct feedback with employees. Remember that communication is a two-way street and encourage feedback from your team. It is also important to keep your employees informed of any changes to the business. If employees feel like they are not being consulted on issues with the business, they will feel unappreciated and unmotivated. Flexibility Provide your employees with flexibility to create their own work/life balance. Motivate your employees by allowing them flexible schedules, job sharing and work from home opportunities. Many business owners fear that offering flexible schedules will create less productivity, but studies have shown that the opposite is true. When employees feel in control of their own working days, they are more productive and feel more valued. Ownership Allow your employees ownership of projects and their own roles. Feeling a sense of ownership gives your team responsibility to ensure quality work. Motivating them to get the work done efficiently and effectively. This can be difficult to navigate though as some employees may feel undervalued if you are constantly giving them more responsibility with little reward. Ensure the responsibilities you are giving them are welcomed and motivating. Avoid unreasonable demands and demotivating your team. Remember that the way you motivate your employees will be different for each person. Preferences for motivation are as individual as people. Figure out what works for your employees and your business will succeed.

Motivated employees are often more productive, they're also just happier. As part of a smaller team, the business runs much smoother is everyone enjoys being there. If everyone is motivated and engaged, your team are more likely to find solutions quickly and keep the business moving forward. While fair and adequate compensation is a great start, it is not the only thing you need to keep your employees motivated in the long term. They want to feel like they are part of something, like they are a valued member of the business. Your employees need to be intrinsically motivated. Their own wellbeing, happiness, personal growth and individual achievements are as important, if not more, than their salary. There are seven factors of employee motivation: 1. Meaningful Work Employees need to find meaning in what they do. It is not just about coming to work and getting through the to-do list, it is about having a purpose. Employees want a sense of fulfillment in their work, to feel like they are doing something of value. If the work aligns with an employees own values, they will be motivated to do the work, even when it gets challenging. Understand what drives your employees and nurture these passions. Try to weave individual aspirations into the role. 2. Vision A sense of fulfillment also comes from knowing the business vision. Employees want to know the ‘why’ behind what they are doing. Feeling connected to a larger vision makes the work more significant and meaningful. 3. Recognition and Feedback Employees need to know that they are doing great work. They need recognition from their management to improve self-esteem and morale. Recognizing your employees for the efforts and achievements increases enthusiasm and a culture of team spirit. 4. Communication Open, consistent, and honest communication are essential for employees to feel part of the team. When employees feel seen, heard, and valued, their commitment to the company increases. This includes feedback about performance as well as changes that are being made in the business. 5. Inclusion No one likes simply being told what to do. They like to be part of the process. Including your team in the decision-making process for the business makes them feel empowered. Giving them authority over their own tasks creates a further sense of belonging, increasing their motivation to the role and the business. 6. Mentorship Leaders need to build trust and encourage their employee’s individual development. Managers that care about their employees personal and professional growth have a more motivated team. Encourage your team to continue learning and develop as an employee and as an individual. 7. Equity Fair compensation is still the basis for most employee satisfaction. Knowing that they are a valued team member through equitable pay sets the tone for a culture of fairness. Policies and processes must also be fair and equitable across the business. Treating all employees fairly, with dignity and respect improves your business morale. Employees need to feel that they are being treated equitably. By encouraging personal growth, recognizing achievements, providing learning opportunities and cultivating a positive business culture, you can improve your employee motivation. Acknowledge and celebrate your employees individual passions and potential to keep your team ready to tackle the challenges of business. Make your business a place your employees want to come to everyday not only enhances productivity but creates a culture built on trust, recognition and a sense of purpose.

In today's digital age, cybersecurity is not just an option; it's a necessity! Modern technology has made so many advances when it comes to running a business, but with those advances comes potential threat. And no-one is immune. We have seen massive data breaches from the likes of Optus, PlayStation, Medibank and Latitude finance in the past few years. And it is not just the big companies that are at risk. Small business operators are also at risk, either through the cloud software systems they use, emails, phishing, websites or any number of other computing systems used by both large and small companies around the world. Any digital information that your company creates, collects and stores needs to be protected. Most business owners are aware of this, but an alarming number of businesses do not have adequate policy or training around cyber risk and readiness. Your money, information, technology and reputation could be at risk. Be Aware The first step to becoming cyber ready is to be aware of your what systems you are using and their vulnerabilities. Take stock of which digital systems you are using. Create an inventory of your software and hardware assets. You may be surprised to find there are many systems or software applications that you were not even aware your business was using. The next step is to look at the vulnerabilities. Which of the systems that you use could pose a risk to cyber security? Think about who has access to each system and how they are accessing the system. Passwords are a common issue as so many people use the same generic password for all their digital accounts. It is also important to stay up to date on the latest types of cyber-attacks and scams. Learn what to look out for so you can stay clear of the latest trends in cyber-attacks. Be prepared How will your business respond if you are met with a cyber-attack? So many businesses wait until they must deal with a potential threat before they have any idea what they would do. Ensure that you have anti-virus software installed on all hard drives and increase malware detection measures. If you are purchasing cloud-based software, identify any risk before purchase. We are often finding a solution to a particular problem and not looking at the fine print before we sign up. This could leave you vulnerable. A Cyber Incident Response plan or policy would be and ideal way to be prepared. Ensure they are updated regularly and involve all the key contacts in case of a data breach. Employee Training Your employees should be trained in cyber awareness. This could be in-house or through a third party, but you need to make sure your staff have the proper education and tools to avoid risks. It is not just about employees changing passwords, but being aware of what attacks could be happening. Do your employees know not to open links in suspicious emails? Do they know what to look out for when it comes to a suspicious email? Think about the devices that employees are accessing information on. If you have work from home employees, is their hardware adequately protected? And with access to things like emails 24/7 on our mobile devices, ensure that there is protection in place for anyone who accesses important information remotely. Update your systems Ensure that you are always using the most up-to-date versions of your software. Do not ignore notifications from your operating systems when it comes to security. Ensure any firewalls, anti-virus software and your operating systems are all updated. Newer versions of software will patch out vulnerabilities that could be exploited. Ensure that you are also using strong passwords on any cloud software that you use and that passwords are changed regularly. It may seem like a chore, but it can save you from cyber-attacks. You may also want to enable Two-factor authentication on your software. This enables a second barrier to your data through the use of needing a code send via SMS, email or a third-party authenticator app. Get insured Cyber insurance is a relatively new insurance product, however, it may be invaluable if you do end up under attack. Talk to your insurance broker about the pros and cons of obtaining cyber insurance.  As with most things in business, being cyber ready can seem like a massive undertaking, but with some knowledge and education, it can be done and you can limit your vulnerability to attack.